$67b reserves: Adamant Ezekwesili challenges govt to public debate

A former Vice President of the World Bank, Africa Region, Mrs. Oby Ezekwesili, yesterday remained adamant, saying the Federal Government should account for how it spent the $67billion reserves inherited from the former administration of ex-President Olusegun Obasanjo.

She also challenged the Federal Government to a debate on all the issues she raised.

She, however, added that she has nothing to hide on how she managed funds allocated to the Federal Ministry of Education during her 10-month tenure.

Ezekwesili, who made her position known in a statement in Abuja last night, said she remains resolute in demanding accountability on the management of the Foreign Reserves and the Excess Crude Account.

She said: “I remain resolute in demanding full disclosure and accountability by the Federal Government on the issues of poor management of oil revenues- especially the Excess Crude Account and the Foreign Reserve Account.

“The recent reaction by the spokesperson of the Administration failed to respond responsibly to my demand for accountability.

“In my Convocation Lecture at the University of Nigeria , I had stated concerning the poor management of oil revenues as follows:

“While these countries moved up the manufacturing and economic development ladder in my 50 years of existence, all I can say for Nigeria is that during the same period I have known at least five cycles of commodity booms that offered us rare opportunities to use revenues generated from oil to transform our economy. Sadly, each cycle ended up sliding us farther down the productivity ladder.”

The trio of Labara Maku, Doyin Okupe and Reuben Abati can not withstand Ezekwesili. it shows the caliber of people that are piloting this government. one step forward thee steps backward.

Raji B M

If true government is right for their claiming,go and challenge Ezekwizele @ debate.Coward leaders.

Coco-Bassey,Esu

this present cannot tolerate criticism even when it obvious to the blind,now that she challenge the FG to public debate to know wat the country do with d nation resources which she has d right to know as a rightful citizen,it shld b the concern of all right thinking citizens,civil society,national assembly to welcome this debate,this will strengthen democracy

Oby Ezekwesili is just making noise now because her father obasanjo is no more in power.Why did’nt she ask her fathers regime to account for?I reserve my comment.

a lawal

Nwabueze if you have nothing intelligent to say, then keep your mouth shut. The woman is 100% correct with her observations and questions.

DrP2

How is she 100% correct, to start from her doorstep, she says she can defend her tenure apparently implying it is better than the current one….the current administration has created 9 new universities ..how can she beat that?

Then she is saying that we have slid down the productivity ladder to commodities, this administration is struggling to get NASS members to pass the PIB bill which moves us up such ladder by switching to a higher notch in the value chain, but try convincing the NASS members about that

then who moves us to a higher notch in the productivity ladder, government or entrepreneurs?
It it not the same World Bank that is asking govt to divest from direct productivity and deregulate public enterprises? Or is she now a born again post development apostle?

She is speaking from an inconstitent cathcism….very much like OBJ brought ups…they preach what they dont practice

Nwabueze I have decided to keep all your weak and unintelligent comments in archive awaiting the day i’ll be privilege to meet with your children so they know how intelligent their father may have been. Dr. Ezekwezili has challenged the present regime of mediocres like you to a public debate, you’ll do yourself and GEJ a lot good if you participate.

In a time of political and economic degradation which apparently are the seeds of poor and bad leadership, this is a wake-up call to all Nigerians youthful in mind to arise and face the reality on ground and accept the responsibility to take charge of the FLAGSHIP (NIGERIA) and steer it in the right direction. This is the VISION of the “RESTORE NIGERIA GROUP”; We’re ready to support any well meaning Nigerian and any positive agenda geared towards the common good of the Nation. We’re no longer ready to play cowardice or sycophant to any group, political party or government official regardless of the position.

Our priorities are set on high beyond party boundaries and I want to use this medium to call on all Nigerians to join the RESTORE NIGERIA GROUP on FB and Twitter. We must take out destinies in our hands; we’re too intelligent to be ruled and governed but unskilled and untrained blacksmiths who have no good agenda and the capacity to pilot this country to the next level.

We’ll no longer welcome any form of mediocrity no matter who’s involved; we want the best and nothing less and if any president will not provide it, then let him give way to a more competent and capable hand.

Arise O compatriots! The time is now to RESTORE NIGERIA back to political glory and dignity.

Oko ajegi

Again and again, Labaran Duniya (Maku) is talking before thinking. Our problem in this country is that government’s spokespersons think their only job is to defend government, even when they know something is wrong. Let Maku accept the challenge ofeered by Oby, so that Nigerians will know who is telling the truth.

DrP2

The truth is that we have not reached where we will desire to be, OBJ laid some foundation by putting down so policy to kick start deregulation, but OBJ did not have to face the global recession which started with the Lehman Brothers crash which the CBN told us necessitated a drwa down to fire wall the economy
It may be true that in spending that money all the three tiers of govt which shared it did not spend it on job creation, poverty reduction etc but what is the rate of economic growth after the draw down?

Economic development requires years of institution building and societal transformation, why has she suddenly released that between 2003 and 2013 the speed of such development will change when the institutions are still undergoing policy change…lets take electricity for instance…the drastic policy change only started six months ago. ?.how can productivity precede that?

Ajobola

If truly these agents (Labara Maku, Doyin Okupe and Reuben Abati ) of this devil-government have better explanations to convince us they should meet Madam for a public debate rather than silly and wasteful newspaper publications. Rogues and fortunate Vagabonds in power, God punish you and your household!!!

DrP2

if she knows some secrets about where some state officials sent the money why not say it instead of talking in parables

Olawale Yinusa

Oby has refused to be dragged into roforofo fight which the trio of Maku, Doyin and Abati are adept at. She has remained focussed on wagging them on intellectual platform. That is a superior strategy. Bravo Oby.

This is a simple case of crucifying the messenger while ignoring the message. The trio of Maku,Okupe and Abati should come up with a more convincing defense of a clear and obvious indictment, rather than hurriedly slipping into further opprobrium through uninformed reactions. My people have an adage that ‘when the cricket is roasting away in fire, it deceptively feels it’s producing edible oil’ This seems to be what the Jonathan regime is doing presently.

green kizu

MAKU, I KNOW. OBY, I TRUST. BUT THESE FIGURES CALL FOR A MOMMOH MODERATED DEBATE ON CHANNELS.

felix

My brother,how on earth did we allow ourselves dragged into this kind of banana republic without any form of resistance. That we have hoodlums as leaders is one thing, but allowing them go away with whatever crime or evil they perpetrated against the people of Nigeria is what l find difficult to swallow. And this other attitude of jumping to the defence without logics whenever tbe lid is blown off their head is another shameless act only ascribed to hooligans who hang out in the motor parks,ready to fight anytime of the day because it has become their survival instinct even when they know they may not be strong enough. Now that Mrs Ezekwesili has challenged them for a fight, you bet if any of them is ready for it.

Nkechi Obi

Oby’s views are belated, why now ? is it because she is jobless and looking for relevance, if the President gives her appointment now her song will change. Let us learn to do the right things at the right time. Leave our President to concentrate and deliver on his mandate.

Adeola Daramola

Looking for relevance in Nigeria? Jobless? Delivering of which mandate? Pls, always think before you writing, don’t be a sycophant. Nigeria don’t need people of your mind set.

Eyo

It is better late than never.
I am not holding brief for anybody but I think it would be fair for the FG to respond to Oby’s assertions. if they think she is lying, produce the facts to silence her, else, own up.

James Epo

Jobless? a simple debate doesn’t indicate she is jobless and if at all she is, they should honour the debate and let the whole world see and hear the bad they are hiding….what a terrible government

Omar Ossy

You are not being honest Nkechi. Oby never wanted any post from GEJ. Objectively and constructively, is her claims right? If not, let the trio face her in debate. Soludo challenged Aganga and he ran away. Now, Oby is challenging three people. Let the DEBATE begin!

This is a rogue govt.Always looking for excuses and people to blame for their ineptness!

Goddy Uzoma

Labaran Maku, I thought you were intelligent, your argument exposed the weakness of the presidency; Oby was a minister under Yardua/Jonathan Administration, money was allotted to her for a purpose and that purpose was not done and the was not accounted for. Please may i ask now what was the action of the presidency at that time .

Goddy Uzoma

I missed a word pls include the(money)was not accounted for

Goddy Uzoma

Labaran Maku, I thought you were intelligent, argument exposed the weakness of the presidency; Oby was a minister under Yardua/Jonathan Administration, money was allotted to her for a purpose and that purpose was not done and the was not accounted for. Please may i ask now what was the action of the presidency at that time .

xray

FG the stage is set.. Lets go for this debate.. else Oby is saying the truth but Oby you must also talk about how your father OBJ ruined this nation

Coco-Bassey,Esu

nwabueze nd nkechi,is like poverty has damaged ur brain that is why u think everybody is jobless like u and u collect money from pdp to comment with no fact,madam oby is not looking for relevances,read her profile,GEJ has invited into her cabinet nd she declined base on her past experience when she served under obj admin,it beta u also give a call for public debate as she raised that make u and me to know who is right

JBOY

Both Oby, Gej, Maku, Abati and Okupe have skelaton in their cupboard.Yes every body knows that GEJ’s govt squandered the monies in foreing reserves.Can Oby explain how her father, OBASANJO squandered the monies voted to revive the power sector???. Iam sure Oby is attacking GEJ because her mumu father Obasanjo is fighting GEJ. Both of them will meet their waterloo, one day, one time, Ugly and heartless thieves and devils in Human form.

Eyo

Let GEJ’s camp also release information of Oby’s mismanagement of funds while she was in government. this same GEJ is persecuting Sylva for his mismanagement of Bayelsa funds, yet kept quiet over the mismanagement of funds by Alameiseigha

cmenmen xavi

Its high tym we stood 4 wot is ryt…. Even if we’r living in a banana republic dispensation. as citizens, we deserve to knw wot our so calld leaders do wit d proceeds gtn 4rm oil resource. And support such move to inquire as initiatd by madam due process

Adedayo

She is right but there was nothing really achieved by Obasanjo, the man went about commissioning uncompleted projects. We all know the state of our roads especially Abuja roads when Obasanjo left. and pray! is foreign reserve really money to be spent?

The problems of this country are just too much.-4rm one 2 anoda.mind u,there are still lots of cases still hidden under d carpet.
wat even worries me most is d way & manner @which justice are being carried out on the apprehended culprits(esply the so called politicians).until our judiciary system gets serious in tackling corruption,atleast propose rigid punishments 2 our top gov.offenders dat wld serve as deterence to others,we might just be in a rat race.Serious adjustments need to b done up there.

DOFFI ATOSHI

Where is JJ Rawlings please,no more men in Nigeria!

DINONAP

Tbe best and honourable way to exonerate or prove the innocence of the FG is to accept this public debate as requested by Madam Oby.

Oby has right to comment on such issues. This is what freedom of speech and information is about.
It is better for an insider or better say former Minister to blow the whistle. If this comments had come from the opposition parties, may be it can be wished away easily.
Madam is an intelligent public servant and her experience in World Bank gives her insight to Nigerian economic reserves. So Nigerians cannot afford to ignore her on this subject matter.
FG should accept an impartial public debate to this issue